FIFO Assumes All but One of the Following

question 88

Multiple Choice

FIFO assumes all but one of the following:

• A)Sell the old inventory first
• B)Recent cost assigned to inventory not sold
• C)Sell the new inventory first
• D)Cost flow tends to follow physical flow
• E)None of these

Comprehend the role of Herzberg's two-factor theory in employee motivation, including factors leading to satisfaction and dissatisfaction.

Grasp Maslow's hierarchy of needs and how it applies to employee motivation.

Differentiate between motivators and hygienes within Herzberg's two-factor theory.

Understand the implications of various compensation systems like the piece-rate system on employee motivation and performance.

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Definitions:

Absorption Costing

A method of accounting that encompasses all costs associated with manufacturing, such as direct materials, direct labor, and variable as well as fixed manufacturing overhead, in the pricing of a product.

Unit Product Cost

The total cost to produce a single unit of product, including direct materials, direct labor, and allocated overhead, crucial for pricing and profitability analysis.

Variable Costing

A costing method that includes only variable costs (costs that change with production volume) in product costs and treats fixed costs as period costs.

Unit Product Cost

The total cost assigned to a single unit of product, encompassing direct materials, direct labor, and manufacturing overhead.